Wellington Shields Capital Management LLC boosted its stake in Altria Group (NYSE:MO) by 0.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,367 shares of the company’s stock after acquiring an additional 6 shares during the period. Wellington Shields Capital Management LLC’s holdings in Altria Group were worth $474,000 as of its most recent SEC filing.
Other large investors have also made changes to their positions in the company. Hartford Financial Management Inc. raised its holdings in Altria Group by 25.4% during the first quarter. Hartford Financial Management Inc. now owns 4,542 shares of the company’s stock worth $324,000 after purchasing an additional 920 shares in the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH grew its position in Altria Group by 164.9% during the second quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 244,398 shares of the company’s stock worth $18,149,000 after buying an additional 152,121 shares during the period. Washington Trust Bank grew its position in Altria Group by 495.6% during the first quarter. Washington Trust Bank now owns 105,680 shares of the company’s stock worth $7,548,000 after buying an additional 87,937 shares during the period. SPC Financial Inc. grew its position in Altria Group by 1.8% during the first quarter. SPC Financial Inc. now owns 11,150 shares of the company’s stock worth $796,000 after buying an additional 200 shares during the period. Finally, Reilly Financial Advisors LLC grew its position in Altria Group by 4.1% during the first quarter. Reilly Financial Advisors LLC now owns 29,960 shares of the company’s stock worth $2,140,000 after buying an additional 1,188 shares during the period. 61.89% of the stock is owned by institutional investors and hedge funds.
Altria Group (NYSE MO) remained flat at $62.28 during mid-day trading on Friday. The stock had a trading volume of 9,790,546 shares. The company’s 50 day moving average price is $64.48 and its 200 day moving average price is $71.33. Altria Group has a 52 week low of $60.01 and a 52 week high of $77.79. The stock has a market capitalization of $120.08 billion, a PE ratio of 8.21 and a beta of 0.63.
Altria Group (NYSE:MO) last announced its quarterly earnings data on Thursday, July 27th. The company reported $0.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.01). The business had revenue of $4.37 billion during the quarter, compared to the consensus estimate of $5.02 billion. Altria Group had a net margin of 56.98% and a return on equity of 59.50%. The firm’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.81 EPS. On average, analysts predict that Altria Group will post $3.26 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 10th. Shareholders of record on Friday, September 15th will be paid a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a yield of 4.23%. The ex-dividend date is Thursday, September 14th. This is an increase from Altria Group’s previous quarterly dividend of $0.61. Altria Group’s dividend payout ratio is 32.19%.
Altria Group announced that its Board of Directors has initiated a share repurchase program on Thursday, July 27th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 0.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.
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In other Altria Group news, CEO Martin J. Barrington sold 15,300 shares of the company’s stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $65.03, for a total value of $994,959.00. Following the completion of the transaction, the chief executive officer now owns 701,074 shares in the company, valued at approximately $45,590,842.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.11% of the stock is owned by corporate insiders.
Several research firms have recently commented on MO. Vetr lowered shares of Altria Group from a “buy” rating to a “hold” rating and set a $80.38 price target on the stock. in a research report on Monday, June 19th. BidaskClub upgraded shares of Altria Group from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, June 21st. Royal Bank Of Canada restated a “sell” rating and set a $62.00 target price on shares of Altria Group in a research report on Friday, May 26th. Piper Jaffray Companies set a $76.00 price target on shares of Altria Group and gave the stock a “buy” rating in a research note on Thursday, July 27th. Finally, Cowen and Company set a $78.00 price target on shares of Altria Group and gave the stock a “hold” rating in a research note on Friday, July 28th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $71.81.
About Altria Group
Altria Group, Inc is a holding company. The Company’s segments include smokeable products, smokeless products and wine. The Company’s subsidiaries include Philip Morris USA Inc (PM USA), which is engaged in the manufacture and sale of cigarettes in the United States; John Middleton Co (Middleton), which is engaged in the manufacture and sale of machine-made cigars and pipe tobacco, and UST LLC (UST), which, through its subsidiaries, including U.S.
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